In 2009, the first $2,400 of unemployment benefits will be tax-free, under relief provided by the American Recovery and Reinvestment Act. Every person who receives unemployment benefits during 2009 is eligible to exclude the first $2,400 of these benefits when they file their tax return next year. For a married couple, the exclusion applies to [...]

The IRS has released the new withholding tables (IRS Pub. 15-T) that are to be used by employers for the remainder of 2009 and in 2010.  The tables reduce the amount of federal tax that is withheld from employees’ paychecks to account for the new Making Work Pay tax credit.Now may be the time to take [...]

The Social Security Administration (SSA) has posted frequently asked questions (FAQs) on their website regarding the one-time $250 payment social security recipients will receive. SSA expects everyone who is entitled to a payment to receive it by late May 2009. They indicate they are currently working on the details regarding how they will issue nearly [...]